What’s the most difficult aspect of estimating and billing? If you said time and materials, you aren’t alone. Many companies struggle to accurately estimate and bill clients for time and materials. Materials are perhaps the easier of the two, but both can be difficult in a complex project.
Fortunately, there are several best practices that you can implement to help you tame the billing tiger.
Time isn’t the only area of billing that can give companies a headache. Building out accurate quotes and invoices for materials can also be tricky.
A bill of materials (BOM) lists the parts, items, assembly and perhaps prototyping needed for a project. Because the BOM pulls together information from several areas within a company, it can be one of the most complicated and comprehensive parts of the quote or invoice.
One way to enhance the accuracy of your bill of materials is to use software that helps you track all of the components of the invoice. If items are included frequently in estimates, you can save them and use them again for other projects.
Service Manager from Technisoft, a Sage endorsed solution, links various aspects of the service process including quotations, price, projects, time billing, and much, much more. It’s a one-stop software to manage complex business processes and accurately track requisitions, purchase orders, and multiple components of your invoices, estimates, and billing.
BAASS Business Solutions can answer your questions about Technisoft Service Manager and other software to help you tame that billing monster. Whether you’re struggling to manage your accounting and financial processes, seeking better insight into business data, or looking for human resources or CRM systems, we can help. Contact us for more information or call 1-888-650-5544.